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Denote by A, B, and C the events that a grand prize is behind doors A, B, and C, respectively. Suppose you randomly picked a door, say A. The game host opened a door, say B, and showed there was no prize behind it. Now the host offers you the option of either staying at the door that you picked (A) or switching to the remaining unopened door (C). Use probability to explain whether you should switch or not.
A seed distributor claims that 80% of its beet seeds will germinate. How many seeds must be tested for germination in order to estimate p, the true proportion that will germinate, so that the maximum error of the estimate is " = 0:03 with 90% con ..
Use Chebyshev's theorem to find what percent of the values will fall between 120 and 150 for a data set with mean of 135 and standard deviation of 7.5.
Sketch a scatter plot that could represent data from each of following. Label the axes to indicate the independent and dependent variable.
Find the mean, median, mode, standard deviation, and variance. Analyze and explain why these statistical measures are important and how they apply to your data.
What is the probability that a randomly chosen U.S. adult invests in stocks, given that s/he invests in fixed income instruments? What is the probability that a randomly chosen stock investor also invests in fixed income instruments?
business travelers use laptop computers on overnight business trips. State the hypotheses and test the assumption that two third of business travelers use a laptop (α = 0.05).
The average shaft size for the E300 electric motor is .55 inch, with a standard deviation of .10 inch. It is normally distributed. What is the probability that a shaft selected at random will be between .55 and .65 inch?
At the .01 significance level, can the manufacturer conclude that the price reduction resulted in an increase in sales?
A company wants to determine if employees have any preferences among 5 different health plans. A sample of 200 employees provided the data below.
Determine a simple algebraic relationship between the negative binomial probability P(x) and the binomial probability for the probability of n successes in x trials.
Suppose we conduct an ANOVA test of four treatment means and reject the null hypothesis. Construction of a confidence interval for the difference between the first and second sample mean revealed the interval to be 10 plus or minus 12. We conclude
Calculate a 95% confidence interval for the population mean, based on the sample 10, 12, 13, 14, 15, 16, and 49.
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